STOCKMANN TO DEVELOP ITS DISTANCE RETAILING BUSINESS

STOCKMANN plc Company Announcement 9.1.2009 at 12.00

STOCKMANN TO DEVELOP ITS DISTANCE RETAILING BUSINESS

The Stockmann Group is introducing measures to develop its distance retailing business. The strategic goal is that the Group's Hobby Hall division, which is engaged in distance retailing (mail order and on-line shopping), will be integrated into the Department Store Division from the start of 2010. Hobby Hall will continue as an independent division until the end of 2009, focusing on improving its profitability and preparing for the integration process during the year. As part of the measures for improving Hobby Hall's profitability, the division's distance retailing in Russia has been suspended for the time being as from the start of 2009.

Raija-Leena Söderholm has been appointed as the Department Store Division's director of distance retailing and will take up these duties as of 1 January 2010. Her current position in the Department Store Division is buying director (home, electronics, books and food). Söderholm will take up the post of managing director at Hobby Hall on 1 February 2009, and will begin preparations for the integration process. She will also participate in the work of the Stockmann Group's Management Committee until the end of 2009.

Hobby Hall's acting managing director, Tuija Pesonen, has been appointed as the joint administration director of the Department Store Division and Hobby Hall as from 1 February 2009. She will also be involved in the preparatory work for the integration process.

STOCKMANN plc

Hannu Penttilä CEO

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